EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair trades at 1.1736, virtually unchanged. Euro ends week modestly higher as soft US data cements rate cut bets, narrowing policy divergence with ECB US economic data continued to drive price action on Friday as Consumer Sentiment in September deteriorated, while inflation expectations remain above the Fed's 2% goal. This, and the payrolls revision...
Gold (XAU/USD) prices continued its consolidative price movement near record highs through the first half of the European session (3/19) on Wednesday as investors braced ahead of the FOMC policy update. The Federal Reserve (Fed) will announce its decision later during the US session and is widely expected to keep the federal funds rate unchanged in the current range of 4.25% to 4.50%. Hence, the focus will remain on the accompanying policy statement and the latest economic projections, which include the so-called dot plot. Apart from this, Fed Chair Jerome Powell's comments at the...
Oil prices fell on Wednesday after Russia agreed to US President Donald Trump's proposal that Moscow and Kyiv temporarily stop attacking each other's energy infrastructure, which could allow more Russian oil to enter the global market. Brent crude was down 23 cents, or 0.3%, at $70.33 a barrel by 0730 GMT. U.S. West Texas Intermediate (WTI) crude was down 25 cents, or 0.4%, at $66.65. Russian President Vladimir Putin on Tuesday agreed to stop attacking Ukrainian energy facilities but stopped short of a full 30-day truce that Trump had hoped for. "The agreement marks a positive step...
The Japanese Yen (JPY) moved little after the Bank of Japan's (BoJ) decision to leave the short-term interest rate target unchanged and remains depressed in the wake of weaker-than-expected domestic data released earlier this Wednesday. Apart from this, a modest US Dollar (USD) bounce, from a multi-month low touched on Tuesday, lifts the USD/JPY pair above mid-149.00s during the Asian session. The JPY bears, however, seem reluctant to place aggressive bets and opt to wait for BoJ Governor Kazuo Ueda's comments at the post-meeting press conference. Investors will look for cues about the...
Gold price (XAU/USD) touches a fresh all-time peak, around the $3,039 region during the Asian session on Wednesday, though it lacks follow-through as traders opt to wait for the outcome of a two-day FOMC policy meeting. The Federal Reserve (Fed) is scheduled to announce its decision later today and is expected to keep the federal funds rate unchanged at the current range of 4.25% to 4.50%. Hence, the focus will be on updated economic projections and Fed Chair Jerome Powell's comments at the post-meeting press conference. Investors will look for cues about the future rate-cut path, which, in...
Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv stop attacking each other's energy infrastructure temporarily, which could lead to more Russian oil entering global markets. Brent crude futures fell 19 cents, or 0.3%, to $70.37 a barrel by 0420 GMT. U.S. West Texas Intermediate crude (WTI) was down 20 cents, or 0.3%, to $66.70. Russian President Vladimir Putin agreed on Tuesday to stop attacking Ukrainian energy facilities but stopped short of endorsing a full 30-day ceasefire that Trump hoped for. Russia is one of the world's...
The dollar index hovered around 103.3 on Wednesday as investors awaited the Federal Reserve's latest policy decision, with the central bank widely expected to keep interest rates unchanged. Market focus will be on the Fed's quarterly updates on rate projections and its outlook for growth, inflation, and unemployment. Meanwhile, the dollar remained near five-month lows as President Donald Trump's aggressive tariff policies fueled economic uncertainty. Treasury Secretary Scott Bessent told Fox News that while the US economy remains fundamentally strong, he could not rule out the possibility...
The Japanese Yen (JPY) edges lower during the Asian session on Wednesday in reaction to weaker-than-expected domestic data, though it lacks follow-through selling as traders seem reluctant ahead of the Bank of Japan (BoJ) decision. The Japanese central bank is widely anticipated to keep the short-term interest rate steady at 0.50% amid the uncertainty over US President Donald Trump's trade policies and their impact on the economy. Hence, investors will look for signals on the timing and the scope of future rate hikes by the BoJ. The focus will then shift to the outcome of a two-day FOMC...
Gold edges lower in early Asian trade, after touching another record-high on Tuesday. Investors await the Federal Reserve's rate decision, where interest rates are widely expected to be kept on hold. The central bank's economic projections will also be closely monitored, says Bas Kooijman, CEO and asset manager at DHF Capital S.A. in a note. Any dovish signals may strengthen the precious metal's momentum, while a more cautious stance could limit its upside, Kooijman adds. Gold typically has an inverse relationship with interest rates, with high rates damping demand for the...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....